Waves Platform has announced the launch of a new token for community-based KYC/screening of new assets.

The Waves platform has announced the upcoming launch of a new token as a part of its recently introduced Custom Application Token (CAT) facility on the mainnet. The new token distribution will enable Waves to foster community engagement in the next nine months.

The new token, aptly called the Waves Community Token (WCT) will be distributed after January 15, 2017. Initially, 20 percent of the WCTs will be distributed across all existing Waves wallet addresses based on their average WAVES balance between 1st and 15th January 2017. The initial distribution will be followed by 8 similar distributions in tranches of 10 percent each time. In order to be able to receive the WCTs, Waves community members should be holding their balance in Waves local wallets. Any WAVES tokens on exchange platforms are not eligible for WCT distribution.

Waves Community Token is designed to be much more than an alternative to Ethereum’s DAOs, which was compromised earlier in 2016. However, WCTs have better security, reliability and can serve a number of purposes. The DAO like feature on WCT enables members to offer community-based ratings for new projects launched on Waves platform. Asset issuers on Waves platform will also be able to distribute a proportion of their crowdfunded tokens to the WCT and Waves community in return for various services.

Waves Community Token (WCT), like any other Waves CAT assets, is freely transferable and tradable. WCT holders are eligible to receive a constant stream of asset rewards, giving the token a meaningful lifetime value. The WCT distribution timeline spread over a period of nine months also incentivises the community to keep WAVES tokens in their local wallets, away from exchanges by encouraging long-term holding.

Waves Community Tokens vs Decentralized Autonomous Organizations

Ethereum’s controversial Decentralized Autonomous Organizations (DAO) project was a limited success after a loophole in the DAO smart contract was exploited by a hacker, draining out millions of USD worth of ETH from pooled investment fund. Unlike Ethereum that focuses on smart contracts, Waves is a custom tokens platform where tokens can be easily created, transferred and traded.

The straight forward functionality offered by Waves platform makes it easier to use compared to other platforms. This will in turn influence companies seeking to launch their own crypto-tokens choose Waves over other blockchain platforms. Businesses can use Waves to create tokens that represent ownership of any number of different items of real-world value, from fiat currency and stocks to vouchers redeemable for specific goods and services. Waves will use a decentralized voting mechanism for an accurate reflection of community sentiment about new projects without putting funds at direct risk.

Learn more about Waves at: https://wavesplatform.com/

More information on WCT available on Waves Blog: https://blog.wavesplatform.com/waves-community-tokens-e9e8b5db0b49#.el01kju9n

Related News

The Waves platform has announced the launch of a new token called the Waves Community Token (WCT). The launch is a part of its recently introduced Custom Application Token (CAT) facility on the mainnet. These new token will be distributed after January 15, 2017.
The intention behind the launch of the new token is community-based KYC/screening of new assets. The new token distribution will enable Waves to foster community engagement in the next nine months.
Initially, 20 percent of the WCTs will be distributed across all existing Waves wallet addresses based on their average....

One of the top corporate credit ratings providers believes it's too early for the use of blockchain tech to be a factor in its analysis.
In a report published this week, Standard & Poor's (S&P) reportedly weighed in on the emerging technology, asserting that while it believes the "market-wide adoption" of blockchain technology remains far off, it continues to monitor its evolution due to its anticipated impact.
Notably, S&P said it does not see the use of blockchain technology to be a ratings driver "in the near term or even perhaps in the long term".
S&P continued:....

Blockchain token platform, WAVES recently raised over 5000 Bitcoins ($2 million) in less than a week from its ICO campaign. Once released, WAVES will allow anyone to issue their own custom tokens on the WAVES blockchain rather than using the Bitcoin blockchain like Counter-Party.
Kicking off their ICO with a massive 5000 BTC total in the first week, WAVES is off to a good start in attracting potential users. At the end of the campaign, a total of 85 million WAVES coins of the total number of coins will be distributed to the crowdfunding participants based on individual donations....

Russia has emerged as one of the major markets for cryptocurrencies and blockchain products. Political bodies are now utilizing the benefits of blockchain technology in the country. Partiya Rosta is one such Russian political party which has created its own cryptocurrency solution to support social causes.
True to its name Partiya Rosta, which stands for the “Party of Growth” has made use of Waves blockchain platform to create a cryptocurrency called Upcoin. The cryptocurrency is said to be the brainchild of the party’s chairman, Boris Titov. In order to turn his....

Waves is a decentralized platform that allows any user to issue, transfer, swap and trade custom blockchain tokens on an integrated peer-to-peer exchange.
Under the leadership of Sasha Ivanov, Waves blockchain platform, host of the recently held Trading in the era of Robots and Bitcoin in November 2016 at its Digital October Center office is exploring some of the developing trends in the cryptocurrency trading arena with an intention of capitalizing on them.
Waves is a decentralized platform that allows any user to issue, transfer,....

Quotes

Just tried to buy breakfast w bitcoins. Refused. #whenwilltheworld catchuptomyhipness? (taken from his official twitter page)